PQA handles 1,416 ships, 41mn tonnes cargo in 2017-18

ISLAMABAD: Port Qasim Authority (PQA) which is currently accommodating 40 percent seaborne cargo, has achieved milestone of increased number of ships and cargoes during the year 2017-18 as it handled 1416 ships and 41 million tonnes of cargo during the year compared to 1405 ships and 37.3 million tonnes in 2016-17.

The Authority has the largest industrial estate with 273 operational units and 233 under construction units.

Talking to media after meeting of the Senate Standing Committee on Maritime Security here Tuesday, Chairman PQA Asad Rafi Chandna said that the financial performance of the Authority has observed significant improvement as its total revenue climbed to Rs 17,880 million (July-May 2017-18) from Rs 16,857 million (July-May 2016-17) and generated enhanced surplus revenue of Rs 5,870 million in 2017-18 as compared to Rs 4,442 million in 2016-17.

He further said the Authority runs under landlord concept encouraging private sector to establish terminal on BOT basis, industrial and commercial activities.

He said PQA has evolved with the passage of time and has established its mark among the safest and well-maintained ports of the world.

Chandna said that one of the mega projects functional at the port include Liquefied Natural Gas (LNG) project worth US$ 130 million by Pakistan Gas Port Consortium (PGPC) with a re-gasification capacity of 600 million metric standard cubic feet per day (mmscfd), LNG Fast Track Project by Engro Elengy Terminal Pakistan Limited of cost US$ 120 million with a storage capacity up to 170,000 cubic meters on Floating Ship Re-gasification Unit (FSRU) and Coal and Clinker/Cement Terminal by Pakistan International Bulk Terminal (PIBT) of US$ 250 million with a capacity of 8 million ton per annum.